US President Donald Trump said that Vietnamese leader To Lam is willing to eliminate tariffs to avoid punishing new US duties imposed on the Southeast Asian nation’s imports.
Lam “told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US”, Trump said on social, describing a phone call between the leaders earlier on Friday.
Vietnam had earlier asked the Trump administration to put on hold its planned 46 per cent tariff on Vietnamese products for up to three months to enable negotiations.
Trump’s “reciprocal tariffs” announced on Wednesday impose some of the highest charges on Southeast Asian nations that had become key manufacturing and export alternatives to China.
Cambodia, which is facing a 49 per cent US tariff, on Friday said it would slash its own duties on American goods, while Indonesia pledged to ease its trade rules.
Vietnam will continue to push for more purchases from the US, Deputy Prime Minister Ho Duc Phoc said after meeting officials and businesses to discuss how to handle the tariff issues, according to a statement on the government’s website. Export companies are advised to maintain their current prices while awaiting further negotiations, it said.
